Sunday, August 30, 2009

The Market is Now a Zombie Movie

Here is the zombie movie all star cast, roughly in order from most to least outrageous:

General Motors - hovering at a half-billion dollar market cap, even though the stock is worthless.
Lehman Brothers - up 200% on Friday, even though it faces $100 billion in claims.
AIG - up over 5x since beginning of July, even though the CEO admits there is no equity in the company.
FNM - up hugely. But the preferred stock still less than 10 cents.
FRM - same as FNM,
Washington Mutual - up 35% on Friday. Why not buy the holding company notes for 70 cents?

1 comment:

eh said...

That zombie is alive and well, stalking the earth. Even in daylight.